Retirement Guys Formula LLC Boosts Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Retirement Guys Formula LLC lifted its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 10.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 8,523 shares of the information services provider’s stock after purchasing an additional 808 shares during the quarter. Retirement Guys Formula LLC’s holdings in Alphabet were worth $1,425,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of GOOG. Colonial River Wealth Management LLC grew its stake in shares of Alphabet by 5.3% during the second quarter. Colonial River Wealth Management LLC now owns 2,126 shares of the information services provider’s stock valued at $390,000 after buying an additional 107 shares during the last quarter. Oak Ridge Investments LLC grew its position in Alphabet by 4.6% during the 1st quarter. Oak Ridge Investments LLC now owns 187,229 shares of the information services provider’s stock worth $28,508,000 after acquiring an additional 8,201 shares during the last quarter. Rosenberg Matthew Hamilton increased its stake in Alphabet by 4.6% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 11,366 shares of the information services provider’s stock worth $2,097,000 after purchasing an additional 498 shares during the period. Alliance Wealth Management Group increased its stake in Alphabet by 93.6% in the 1st quarter. Alliance Wealth Management Group now owns 3,910 shares of the information services provider’s stock worth $595,000 after purchasing an additional 1,890 shares during the period. Finally, Handelsbanken Fonder AB lifted its position in Alphabet by 4.6% in the third quarter. Handelsbanken Fonder AB now owns 2,628,176 shares of the information services provider’s stock valued at $439,405,000 after purchasing an additional 115,716 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $168.00, for a total value of $114,576.00. Following the completion of the transaction, the chief accounting officer now directly owns 31,334 shares in the company, valued at $5,264,112. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $168.00, for a total value of $114,576.00. Following the sale, the chief accounting officer now owns 31,334 shares in the company, valued at $5,264,112. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total value of $3,741,750.00. Following the transaction, the chief executive officer now owns 2,106,806 shares of the company’s stock, valued at $350,361,837.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 220,426 shares of company stock worth $35,993,340. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Rosenblatt Securities cut shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 target price on the stock. in a report on Friday, June 28th. Cantor Fitzgerald raised shares of Alphabet to a “hold” rating in a report on Thursday, September 5th. Scotiabank began coverage on shares of Alphabet in a research report on Friday, October 11th. They issued a “sector outperform” rating and a $212.00 price objective on the stock. TD Cowen increased their target price on shares of Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Finally, DA Davidson upgraded Alphabet to a “hold” rating in a report on Tuesday, September 10th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $186.90.

Alphabet Stock Performance

Alphabet stock opened at $165.80 on Tuesday. Alphabet Inc. has a fifty-two week low of $121.46 and a fifty-two week high of $193.31. The stock has a market cap of $2.05 trillion, a price-to-earnings ratio of 25.43, a PEG ratio of 1.21 and a beta of 1.04. The stock’s 50 day simple moving average is $163.21 and its two-hundred day simple moving average is $169.86. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.08 and a current ratio of 2.08.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.04. The company had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $84.22 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. The firm’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.44 earnings per share. As a group, analysts expect that Alphabet Inc. will post 7.64 earnings per share for the current fiscal year.

Alphabet Company Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.